Gold - worth investing in ?

[Mark34bn]

Every ad break there's someone pleading with you to send them your gold - top prices paid etc.
Are we expecting a huge rise in the price of Gold ? Is it the only thing worth investing in at the moment ?

Has anyone here done it?

[NismoGT]

The price of gold has shot up.I think it's down to investment demand now the world is headed out of recession.

All i can say is check your local jeweller for a valuation first. My other half was offered £250 for her scrap gold from one of the TV ad's. H Samuel offered £580 from a high street branch.

[Fittster]

People are protecting themselves from a possible rise in inflation because of all the money that has been printed by the central banks. Gold is the classic hedge against inflation.

However the price is at a record high. Was it wise to buy Tech Stocks when they were at record prices in 1999?

[V8mate]

We're not expecting a price rise; the price of gold is already so high that it's worth the scrap dealers buying all and any old crap (and ripping as many unsuspecting folk off in the process) simply to melt it down.

Not one to touch unles you know your product well and have decent contacts to move it on to.

[AndrewW-G]

the realy clever time to get into Gold was in the late 1990's when it was at its recent lowest point, however there was an interesting article in the telegraph during the week, essentialy stating that some of the worlds biggest producers have had to lower their production estimates, as gold is getting harder and harder to find and refine.

My guess is that unless somebody works out a way to extract it from seawater, it will never go down to the low point of the 1990's..................which is of course when our then chancellor, one winky Mcfknut sold a vast percentage of the UK reserves, oh how that man makes me chuckle, he's like a cross between david brent and mr bean!

[Mark34bn]

I've seen the growth in gold prices over the last year, you'd think it was going to peak but all of a sudden these ads are everywhere. Mind you they'll probably offer you fk all for it...

How would someone go about 'buying' some - I don't mean jewellery but say 10lbs of the stuff (for instance), held in a vault until the price is right to sell ?

Edit missed the two posts above whilst writing this -

Edited by Mark34bn on Friday 13th November 21:56

[Fittster]

Mark34bn said:

How would someone go about 'buying' some - I don't mean jewellery but say 10lbs of the stuff (for instance), held in a vault until the price is right to sell ?

Go to a gold shop

http://www.atsbullion.com/index.html

[V8mate]

Mark34bn said:

I've seen the growth in gold prices over the last year, you'd think it was going to peak but all of a sudden these ads are everywhere. Mind you they'll probably offer you fk all for it...

How would someone go about 'buying' some - I don't mean jewellery but say 10lbs of the stuff (for instance), held in a vault until the price is right to sell ?

Edit missed the two posts above whilst writing this -

But that's just it. You buy gold in the market and you'll be paying the market rate which is gruesomely high.
The only people making money are the webuyanycargold type operators who bid low against desperate sellers or chavs with theur stolen goods.

[FourWheelDrift]

I have even seen then on stalls in shopping centres, it's the new ambulance chaser business.

[Mark34bn]

Thanks guys - so tonight's money making plan probably wouldn't have worked then...

[cymtriks]

Fittster said:

People are protecting themselves from a possible rise in inflation because of all the money that has been printed by the central banks. Gold is the classic hedge against inflation.

However the price is at a record high. Was it wise to buy Tech Stocks when they were at record prices in 1999?

Corrected for inflation etc gold was around 1400 dollars an ounce in the early eighties IIRC.

Given the current mess it may have some way to climb.

[fido]

I'm thinking of going short vs oil.

[Mclovin]

its ended the day at something like $1120.....

you dont have to buy physical gold, you can buy it from bullionvault or goldmoney who store it in a safe for you in london or zurich....goldmoney allows you to switch the gold between various currencies.....but if inflation takes off the government will most likely confisgate or restrict its sale...

[Fittster]

Mclovin said:

but if inflation takes off the government will most likely confisgate or restrict its sale...

The only time that has happened was when the currency was on the gold standard. Its also never happened in the UK.

[Jasandjules]

Mark34bn said:

Thanks guys - so tonight's money making plan probably wouldn't have worked then...

It would have about 2 years ago.

Right now, if you have money to risk, consider what items are going to go up in price in the future. Now, I'd say Energy.

[Oakey]

Hey guys, remember that poster who was here about a year or more ago and said we should all buy gold? Remember how we laughed and derided him? Boy, do we look silly eh?

[TimJMS]

Oakey said:

Hey guys, remember that poster who was here about a year or more ago and said we should all buy gold? Remember how we laughed and derided him? Boy, do we look silly eh?

PH would not allow me to quote, but at least two guys got this right

TimJMS

939 posts

78 months

[report]
[news]
Sunday 5th October 2008 quote edit delete
supersingle said:
Buy some gold and hide it under your floorboards. HTH

In for the win. yes

[Oakey]

TimJMS said:

Oakey said:

Hey guys, remember that poster who was here about a year or more ago and said we should all buy gold? Remember how we laughed and derided him? Boy, do we look silly eh?

PH would not allow me to quote, but at least two guys got this right

TimJMS

939 posts

78 months

[report]
[news]
Sunday 5th October 2008 quote edit delete
supersingle said:
Buy some gold and hide it under your floorboards. HTH

In for the win. yes

Here you go:

http://pistonheads.co.uk/gassing/topic.asp?h=0&amp...

January 2008

[Deva Link]

You've also got to think about the effect of the exchange rate.

I haven't compared gold price to x/r but you probably could have done pretty well buying at $2 to £1 and selling when it was $1.35. For a steady price of $1000 per oz that'c close to a 50% gain in sterling.

[jshell]

Mclovin said:

its ended the day at something like $1120.....

you dont have to buy physical gold, you can buy it from bullionvault or goldmoney who store it in a safe for you in london or zurich....goldmoney allows you to switch the gold between various currencies.....but if inflation takes off the government will most likely confisgate or restrict its sale...

fk that! Buy and keep it safe yourself. Like asking a stranger in another country to hold your wallet.

For buying gold, try: www.goldline.co.uk I've bought from them at good prices and very good service.